The American Economic Review, Volume 97American Economic Association., 2007 |
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... business cycles even if the variance of individual income changes is constant over the cycle . In addition to the theoretical analysis , this paper conducts a quantitative study of the cost of business cycles using empirical evidence on ...
... business cycles even if the variance of individual income changes is constant over the cycle . In addition to the theoretical analysis , this paper conducts a quantitative study of the cost of business cycles using empirical evidence on ...
Página 675
TABLE 1 - COST OF BUSINESS CYCLES : BASELINE ECONOMY Notes : Costs of business cycles are expressed as percentage of lifetime consumption ( equation ( 16 ) ) . The first and second columns assume displacement rates of p1 = 0.05 and PH ...
TABLE 1 - COST OF BUSINESS CYCLES : BASELINE ECONOMY Notes : Costs of business cycles are expressed as percentage of lifetime consumption ( equation ( 16 ) ) . The first and second columns assume displacement rates of p1 = 0.05 and PH ...
Página 676
... BUSINESS Cycles as A FUNCTION OF MEAN EARNING LOSSES FOR DIFFERENT DEGREES OF RELATIVE RISK AVERSION 9 8 7 6 5 4 3 2 1 8.08 0.10 0.12 0.14 0.16 0.18 FIGURE 2. COST OF BUSINESS Cycles as a FUNCTION OF SPREAD OF EARNINGS LOSses for ...
... BUSINESS Cycles as A FUNCTION OF MEAN EARNING LOSSES FOR DIFFERENT DEGREES OF RELATIVE RISK AVERSION 9 8 7 6 5 4 3 2 1 8.08 0.10 0.12 0.14 0.16 0.18 FIGURE 2. COST OF BUSINESS Cycles as a FUNCTION OF SPREAD OF EARNINGS LOSses for ...
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EDMUND S PHELPS | 541 |
O 2 0 2007 | 713 |
ALMA COHEN AND LIRAN EINAV | 745 |
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agents aggregate American Economic Review analysis assets assume assumption average behavior benchmark Beveridge curve business cycles candidates capital changes choice coefficient cointegration consumer consumption contracts correlation cost of business countercyclical deductible degree distributions distribution durables effect empirical equation equilibrium estimated exchange expected Figure firms function given growth HIP model households implies impulse responses income increase individuals inflation inventory investment investment rate Journal of Economics labor market loss aversion marginal likelihood matching Matthew Rabin ment Michael Woodford monetary policy nodes nomic observed optimal output pairs paper parameters patients percent policy shock post.com preferences procyclical production Proposition random regime relative response risk aversion sample Section sector Shapley value side payments simulations sticky prices stochastic Table theory tion tradable unemployment utility variables variance volatility vouchers wage workers Yangzi Delta